Key Takeaways
- An Intuit survey of Americans aged 18 to 35 found widespread reports of financial stress.
- The top stressors were a high cost of living, job insecurity, rent and housing costs, high levels of debt, and unexpected emergencies.
- More than 40% said that taking on a side hustle improved their financial wellness.
Young Americans are still feeling the effects of higher prices—and it's stressing them out, according to new data, with many turning to budgets and side jobs to ease their concerns.
In a recent Intuit survey of 2,000 Americans aged 18 to 35, the top source of stress was the cost of living, which was cited by more than three fourths of respondents. Nearly half pointed to job insecurity; 46% said rent and housing costs weighed on them; 41% cited debt; and nearly one-third noted worries about affording unexpected emergencies.
The survey's results come as the job market has remained strong and inflatio🔴n has co🍒oled, though also remained stubborn.
To manage financial stress, young Americans are finding ways to boost their cash flow or get a handle on their spending, according to Intuit. More than 40% of respondents said that doing a side hustle improved their financial stress, while a similar percentage said that they've drafted a budget, which they say has improvꦐed their relationship with money.
Still, nearly a third said they didn't have a clear strategy for managing money setbacks. And dealing with financial challenges may be more difficult for those without savings to fall back on: According to the survey, 38% of women and 25% of men said they had inadequate 澳洲幸运5官方开奖结果体彩网:emergency savings.
Another recent survey by the Certified Financial Planning Board that the majority of those with debt worried about the lon🀅g-term effect it would have on their financial well-being.